Question: Explain the relationship between the accounting equation and the double entry principle The double entry principle shows how the assets of the business influence the

Explain the relationship between the accounting equation and the double entry principle The double entry principle shows how the assets of the business influence the liabilities and owner 's equity,The double entry principle means that we only have one unknown in the accounting equation to solve for,All accounts in the double entry system are categorized into one of the three elements of the accounting equation The accounting equation helps us to identify the relevant assets and liabilities required for the double entry system

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